Management 4801 |120 Questions| With Correct Answers.

You should hire people with similar skills so you can specialize. {Ans: False}It is not important to brainstorm before you enter the business arena. {Ans: False}Costs include the purchase price if you are buying. {Ans: True}A location escape hatch requires three doors to your store. {Ans: False}The market-based economy has changed the way business has to view competition. {Ans: False}Bootstrapping is an important concept for a start-up. {Ans: True}Faith Popcorn wrote: {Ans: The Brain Reserve}Competition is healthy for business. {Ans: True}Without the protection of a copyright, patent, or trademark you may: {Ans: Lose your business Your ideas may be stolen Your products may be copied All of the above}Distribution is all-important in the growth stage of a market. {Ans: True}Non-ownership insurance is only required when you borrow employees' cars frequently. {Ans: False}Conducting secondary and primary research will: {Ans: Reduce your risk}Which of the following is a type of venture capital firm? {Ans: Finance companies Industrial firms Insurance companies All of the above}The following are examples of expenses you will have to pay while waiting for payment from your customers except: {Ans: Investments}An area of greatest strength